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Using Dutch data we empirically investigate how financing and innovation vary across firm characteristics. We find that … when firms face financial constraints, debt financing and innovation choices are not independent of firm characteristics …
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This paper investigates the relationship between product market competition (PMC) and innovation. A Schumpeterian …, competition may also reduce innovation incentives for laggards. This model generates four main predictions which we test … empirically. First, the relationship between product market competition (PMC) and innovation is an inverted U-shape: the escape …
Persistent link: https://www.econbiz.de/10010292944
industries. The same pattern shows up in the three Dutch Community Innovation Surveys. …
Persistent link: https://www.econbiz.de/10010275860
This paper proposes a method to implement maximum likelihood estimation of the dynamic panel data type 2 and 3 tobit models. The likelihood function involves a two-dimensional indefinite integral evaluated using "two-step" Gauss-Hermite quadrature. A Monte Carlo study shows that the quadrature...
Persistent link: https://www.econbiz.de/10010276140
industries. The same pattern shows up in the three Dutch Community Innovation Surveys. …
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